From Claims Payers to Solution Providers: What Does a Customer Want From Their Insurer?

In this episode of Deciphered, Adam Davis, Associate Partner at Bain & Company, is joined by Henrik Naujoks, Partner, Bain & Company, Prashant Agarwal, Head of Digital, Customer & Ecosystem Marketing, AIA, and Ben Luckett, Chief Innovation Officer, Aviva, to discuss what customers want from their insurer.

What's the most exciting area of insurance to build on right now, and will a significant share of customers use services beyond coverage for insurance providers in the next 10+ years?

Timestamps:

- (04:35) The Answer First: From claims payers to solution providers - what does a customer want from their insurer? 
- (09:16) What key elements of the value proposition will allow insurers to increase customer engagement in the right way? 
- (13:18) Is having a purpose-driven message/narrative important for insurers when it comes to customer loyalty? 
- (15:57) Best examples of insurers benefiting from a niche proposition when it comes to customer engagement & how has this impacted the industry with regards to consumer dynamics? 
- (21:35) Preventative proposition features, preventing customer risks 
- (23:39) Elements of value within risk prevention & how data can help this 
- (27:49) Can connected devices & technology help with over-intrusive data use? 
- (34:14) Customer's expectations on insurers playing a role in reducing climate change 
- (40:23) What's the most exciting area of insurance to build on right now? 
- (43:42) Will a significant share of customers use services beyond coverage for insurance providers in the next 10+ years?

Please subscribe to the show so you never miss an episode, and leave us a review if you enjoy the show!

• You can find Adam Davis here
• You can find Henrik Naujoks here
• You can find Prashant Agarwal here
• You can find Ben Luckett here

Please do check out our report; Customer Behavior and Loyalty in Insurance: Global Edition 2023, for more insights from Bain about the insurance market. 

For more insights from the Deciphered podcast, visit the page on Bain’s website